Summary Box: China sets up rare earths group

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April 9, 2012 6:36PM (UTC)

NEW GROUP: China is setting up an industry association for rare earths companies to fend off trade complaints and help regulate the sector.

THE BACKDROP: The materials, mostly produced in China, are used in many high-tech applications. The U.S., the EU and Japan have accused China of unfair market manipulation.

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ABOUT THE NEW GROUP: The government says the rare earths association includes 155 companies, including state-owned giants like Aluminum Corp. of China and China Minmetals Corp. It covers mining, smelting and processing aspects of the industry.